Commissioner Of Income Tax-Iii, Chennai v. Shri Sudharshan Kumar Rungta

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAM : THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMAND THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR TAX CASE APPEAL NO.905 OF 2010 Commissioner of Income Tax-III, Chennai...Appellant/Appellant Vs Shri Sudharshan Kumar Rungta,Proprietor M/s.Raunaq SteelIndustries...Respondent/Respondent APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 30.3.2010 in ITA No.1346/Mds/2009 on thefile of the Income Tax Appellate Tribunal Chennai 'B' Bench forthe assessment year 2003-04. Judgment was delivered by T.S.SIVAGNANAM,J Heard the learned counsel for the appellant. 2. This appeal by the Revenue challenges the order passed bythe Income Tax Appellate Tribunal, which decided the issue infavour of the assessee. 3. The Revenue seeks to withdraw the appeal on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. 4. In the light of the above, the appeal is dismissed aswithdrawn and the substantial questions of law framed are leftopen. In the event the tax effect is above the threshold limitfixed in the said circular under exceptional clauses mentionedin the circular, liberty is granted to the Revenue to make a https://hcservices.ecourts.gov.in/hcservices/ mention to this Court to restore the appeal to be heard anddecided on merits. No costs. Sd/- Assistant Registrar(CS IX) //True Copy// Sub Assistant Registrar rs To1.The Income Tax Appellate Tribunal, Chennai 'B' Bench.2.The Commissioner of Income Tax III,Chennai. 3.The Income Tax Officer(OSD)Company Circle-V(3), Chennai. +1cc to Mr.M.Swaminathan, Advocate, S.R.No.76958+1cc to Mr.G.Baskar, Advocate, S.R.No.76950 NMI(CO)CS/07/12/2018 TCA.No.905 of 2010